GYSR has been live on mainnet for almost two and a half years — the protocol has distributed over $26M in rewards to nearly 6000 users across 500 pools and 3 chains. And we have learned a lot about incentive tooling in the process. We spent the last year rethinking, redesigning, and building the next generation of this technology, dubbed “GYSR v3”.
Now as we approach launch, we are going to be releasing a series of articles highlighting the new capabilities coming with GYSR v3. This is the second post to kick off that series — catch up on the first post about Streams here.
Introducing the Waterfall — a configurable incentive tool for distributing multi-token rewards.
A Waterfall offers projects a simple, powerful, and highly flexible reward mechanism to fit almost any incentives use case. Within our modular pool architecture, a Waterfall is the combination of an ERC20 or ERC721 staking module with an ERC20 multi rewards module.
Here’s the TLDR on the Waterfall mechanism:
- Distribute multiple ERC20 tokens concurrently (as many as you want!)
- Use any ERC20 token as a reward (including elastic, interest bearing, and transfer fee tokens)
- Configure with ERC20 staking or ERC721 staking
- Set a vesting schedule to incentivize longer term participation
- Users can claim earned rewards at any time
Letting projects reward users with multiple assets opens up a variety of creative ways to align incentives between projects and communities. Some exciting example recipes that projects can cook up include:
- Liquidity mining with both trading pair tokens as rewards
- Protocol fee distribution with many tokens
- Governance rewards across multiple projects or DAOs
- Art and music royalty routing with multiple payment tokens
- Game economy reward systems
Finally, here is a sneak peek at the UI for a Waterfall — in this case, users staking a TEST token will receive TEST, GYSR, and USDC in return!
Some alpha: this multi reward module can also be paired with the ERC20 bond staking module to offer streaming multi token auction, or paired with the Assignment staking module for trustless unlocking of vesting equity!
FYI — we are running beta testing on GYSR Streams and Waterfalls this week! If you are interested in being an early adopter, providing some helpful feedback, or just want to play with cool new technology… please reach out in the discord!
-the GYSR/Passage team
